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Handsome salaries for Miami-Dade mayor's new hires

Miami-Dade Mayor Carlos Gimenez is demanding concessions from county employees in a bid to cut spending. At the same time he is handing hefty salaries to his new coterie of top advisors that rival -- and even surpass -- some of the pricey compensation packages paid in the previous administration ousted by a voter recall.

Gimenez’s kitchen cabinet, announced Thursday, will be:

•  Ed Marquez, a former Miami city manager who will make $267,000 to serve as one of five deputy mayors, a newly created position similar to the previous job of assistant county manager;

•  Jack Osterholt, who is leaving his post as executive director of the South Florida Regional Planning Council and will earn $250,000 as a deputy mayor;

•  Genaro “Chip” Iglesias, the former Key Biscayne village manager and previous Gimenez aide, who will now serve as chief of staff and deputy mayor for $225,000;

• Alina T. Hudak, the county manager and top administrator when Gimenez was elected last month, who will stay on as a deputy mayor earning $259,000;

•  And a fifth deputy mayor to be hired in coming days.

“I want the best people available to help me reduce the size of this government and reduce costs,” Gimenez said. “Sometimes that doesn’t come cheaply.”

More here.

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Jack

Interesting that the Mayor would bring Ed Marquez in after Ed was the Finance Director in 1994 when he oversaw $431.7 million in bonds issued for Water & Sewer that included the largest long-dated swap ever done by AIG Financial Products. On July 15, 2008, the County issued $68.3 million of Miami-Dade County Water and Sewer System RevenueBonds, Series 2008A to pay the costs of terminating the AIG Financial Products Corporation interest rate swap associated with the variable rate Dade County Water and Sewer System Revenue Bonds, Series 1994 and to pay issuance costs. So, why would Gimenez, who opposes swaps, hire someone who cost the County over $68 million on a swap transaction that went bad?

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